NEW YORK, March 2 (Reuters) – India’s economy needs to reach
an annual growth rate of 9 percent to 10 percent and then
sustain that activity “many, many more years than 10 years” in
order to improve infrastructure and bring down rampant poverty,
Finance Minister Arun Jaitley said on Monday.
“We need resources and I can’t get resources until I grow by
9 to 10 percent. And therefore I would like to see India grow by
that rate for the next 10 years,” Jaitley said in response to a
question following an impromptu speech at Columbia University’s
School of International and Public Affairs.
NEW YORK, Feb 12 (Reuters) – U.S. Treasury prices pulled
back from overnight lows to stand little changed on Thursday as
weaker-than-expected reports on retail sales and jobless claims
inserted some caution into the economic backdrop and forecasting
of U.S. monetary policy.
Investors, seeing a potential de-escalation in the conflict
between Ukraine and Russian-backed separatists in the wee hours
of Thursday with a new cease-fire agreement, had trimmed their
positions in safe-haven U.S. Treasuries.
NEW YORK, Feb 12 (Reuters) – U.S. Treasury prices pulled up
from overnight lows on Thursday as weaker-than-expected U.S.
retail sales and weekly jobless claims reports inserted some
caution into the economic backdrop and forecasting of U.S.
The data, which showed U.S. consumer spending barely
rebounded in January suggests economic growth was slow in the
first quarter, and caused a knee-jerk reaction to buy.
NEW YORK (Reuters) – The euro advanced against the U.S. dollar late on Wednesday as conflicting reports emerged about progress between the European Union and Greece over a bailout deal due to expire at the end of the month.
Two official sources told Reuters that no deal has been reached, but that a common statement was being drafted that could leave it open for Greece to extend its current financing. A Greek official insisted there could be no extension of the deeply unpopular bailout.
CARACAS/NEW YORK (Reuters) – Venezuela’s dollar-denominated bonds tumbled on Wednesday after the government announced a new foreign exchange platform that was seen as insufficient to resolve an economic crisis and ease fears of a possible bond default.
The OPEC nation on Tuesday unveiled a new free-floating currency platform called Simadi, the third system in a three-tier exchange control mechanism meant to bolster state coffers.